Warren Buffett's Berkshire Hathaway bets more on banks
Sevens Report Founder Tom Essay on Berkshire Hathaway CEO Warren Buffett’s stock picks.
Warren Buffett’s Berkshire Hathaway is once again betting on financials, increasing its stake in several of the top U.S. banks.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BAC | BANK OF AMERICA CORP. | 46.72 | -0.03 | -0.06% |
| USB | U.S. BANCORP | 50.61 | +0.71 | +1.42% |
| JPM | JPMORGAN CHASE & CO. | 245.03 | -0.28 | -0.11% |
| PNC | THE PNC FINANCIAL SERVICES GROUP INC. | 206.83 | -0.85 | -0.41% |
| BK | THE BANK OF NEW YORK MELLON CORP. | 78.65 | +0.36 | +0.46% |
| TRV | THE TRAVELERS COS. INC. | 262.69 | +1.87 | +0.72% |
The conglomerate disclosed in regulatory filings that it purchased more shares of Bank of America, U.S. Bancorp, JPMorgan Chase, PNC Financial, Bank of New York Mellon and Travelers in the fourth quarter. Berkshire also bought shares in General Motors, energy company Suncor and cloud-computing company Red Hat, which was recently acquired by IBM.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| RHT | NO DATA AVAILABLE | - | - | - |
| IBM | INTERNATIONAL BUSINESS MACHINES CORP. | 208.09 | +3.10 | +1.51% |
| SU | SUNCOR ENERGY INC. | 40.81 | +0.33 | +0.82% |
| GM | GENERAL MOTORS CO. | 56.25 | -0.79 | -1.38% |
The disclosure came months after Berkshire disclosed that it had purchased more than 35 million shares of JPMorgan in the third quarter. At the time, the stake was worth $4 billion. Berkshire is heavily invested in financials and also owns a stake in Goldman Sachs.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ORCL | ORACLE CORP. | 185.73 | +1.99 | +1.08% |
| AAPL | APPLE INC. | 228.02 | +3.02 | +1.34% |
| WFC | WELLS FARGO & CO. | 74.09 | -0.25 | -0.34% |
Buffett’s firm also disclosed that it had dumped its entire 41 million shares of tech firm Oracle just one month after it purchased them. It also cut its stakes in Apple and Wells Fargo.
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Berkshire Hathaway shares sank slightly in trading Thursday.